Seth Klarman of the Baupost Group just released his Q4 portfolio. He has new positions in CIT Group, LSTZA, and DirecTv. Seth Klarman owns 17 stocks with a total value of $1.4 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Seth Klarman
Enzon Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to the development and commercialization of therapeutics to treat patients with cancer and adjacent diseases. Enzon Inc. has a market cap of $415.5 million; its shares were traded at around $9.13 with and P/S ratio of 2.1.
ViaSat Inc. designs, produces and markets advanced digital satellitetelecommunications and other networking and signal processing equipment. Viasat Inc. has a market cap of $926.1 million; its shares were traded at around $29.05 with a P/E ratio of 20.8 and P/S ratio of 1.4. Viasat Inc. had an annual average earning growth of 18.9% over the past 5 years.
Theravance Inc is focused on the discovery, development and commercialization of small molecule medicines for unmet medical needs across a number of therapeutic areas including respiratory disease, bacterial infections, overactive bladder and gastrointestinal disorders. Theravance Inc. has a market cap of $616.6 million; its shares were traded at around $9.7 with and P/S ratio of 26.7.
CapitalSource is a specialized commercial finance company offering asset- based, senior, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending units: Corporate Finance, Healthcare Finance, and Structured Finance. Capitalsource Inc. has a market cap of $1.62 billion; its shares were traded at around $5.01 with and P/S ratio of 1.3. The dividend yield of Capitalsource Inc. stocks is 0.8%. Capitalsource Inc. had an annual average earning growth of 44.3% over the past 5 years.
CIT Group Inc. is a bank holding company that provides financing and leasing capital for commercial companies throughout the world. Cit Group Inc. has a market cap of $13.05 billion; its shares were traded at around $32.25 . Cit Group Inc. had an annual average earning growth of 27.2% over the past 5 years.
DIRECTV Class A is a provider of digital multichannel television entertainment, broadband satellite networks and services, and global video and data broadcasting in the United States and Latin America. Directv Group Inc. The has a market cap of $29.37 billion; its shares were traded at around $30.69 with a P/E ratio of 23.9 and P/S ratio of 1.5. Directv Group Inc. The had an annual average earning growth of 12.7% over the past 10 years.
Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Lstza has a market cap of $2.34 billion; its shares were traded at around $47.3 .
Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary, patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. Syneron Medical Ltd. has a market cap of $274.6 million; its shares were traded at around $9.95 with and P/S ratio of 2.5.
RHI Entertainment develops, produces and distributes new made-for-television movies, miniseries and other television programming worldwide, and is the provider of new long-form television content in the United States. Rhi Entertainment Inc. has a market cap of $4.7 million; its shares were traded at around $0.34 .
- New Purchases: CIT, DTV, LSTZA,
- Added Positions: CSE, ENZN, THRX, VSAT,
- Reduced Positions: ELOS,
- Sold Out: RHIE,
This is the sector weightings of his portfolio:
| Consumer Services | 29.8% |
| Health Care | 21.7% |
| Basic Materials | 11.9% |
| Technology | 11.5% |
| Financials | 11.2% |
| Oil & Gas | 6.6% |
| Consumer Goods | 4.8% |
| Industrials | 0.9% |
These are the top 5 holdings of Seth Klarman
- News Corp. (NWSA) - 24,450,000 shares, 24.71% of the total portfolio
- Domtar Corp. (UFS) - 2,900,000 shares, 11.86% of the total portfolio
- ViaSat Inc. (VSAT) - 4,915,901 shares, 11.53% of the total portfolio
- Theravance Inc. (THRX) - 10,100,000 shares, 9.74% of the total portfolio
- BREITBURN ENERGY PARTNERS, L.P. - COMMON UNITS REP (BBEP) - 8,495,939 shares, 6.64% of the total portfolio
Added: Enzon Inc. (ENZN, Financial)
Seth Klarman added to his holdings in Enzon Inc. by 290.19%. His purchase prices were between $8.2 and $10.77, with an estimated average price of $9.69. The impact to his portfolio due to this purchase was 4.67%. His holdings were 8,082,400 shares as of 12/31/2009.Enzon Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to the development and commercialization of therapeutics to treat patients with cancer and adjacent diseases. Enzon Inc. has a market cap of $415.5 million; its shares were traded at around $9.13 with and P/S ratio of 2.1.
Added: Viasat Inc. (VSAT, Financial)
Seth Klarman added to his holdings in Viasat Inc. by 61.36%. His purchase prices were between $28.34 and $32.34, with an estimated average price of $30.46. The impact to his portfolio due to this purchase was 4.38%. His holdings were 4,915,901 shares as of 12/31/2009.ViaSat Inc. designs, produces and markets advanced digital satellitetelecommunications and other networking and signal processing equipment. Viasat Inc. has a market cap of $926.1 million; its shares were traded at around $29.05 with a P/E ratio of 20.8 and P/S ratio of 1.4. Viasat Inc. had an annual average earning growth of 18.9% over the past 5 years.
Added: Theravance Inc. (THRX, Financial)
Seth Klarman added to his holdings in Theravance Inc. by 11.8%. His purchase prices were between $13 and $15.4, with an estimated average price of $14.08. The impact to his portfolio due to this purchase was 1.03%. His holdings were 10,100,000 shares as of 12/31/2009.Theravance Inc is focused on the discovery, development and commercialization of small molecule medicines for unmet medical needs across a number of therapeutic areas including respiratory disease, bacterial infections, overactive bladder and gastrointestinal disorders. Theravance Inc. has a market cap of $616.6 million; its shares were traded at around $9.7 with and P/S ratio of 26.7.
Added: Capitalsource Inc. (CSE, Financial)
Seth Klarman added to his holdings in Capitalsource Inc. by 15.41%. His purchase prices were between $3.13 and $4.05, with an estimated average price of $3.76. The impact to his portfolio due to this purchase was 0.79%. His holdings were 20,278,400 shares as of 12/31/2009.CapitalSource is a specialized commercial finance company offering asset- based, senior, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending units: Corporate Finance, Healthcare Finance, and Structured Finance. Capitalsource Inc. has a market cap of $1.62 billion; its shares were traded at around $5.01 with and P/S ratio of 1.3. The dividend yield of Capitalsource Inc. stocks is 0.8%. Capitalsource Inc. had an annual average earning growth of 44.3% over the past 5 years.
New Purchase: Cit Group Inc. (CIT, Financial)
Seth Klarman initiated holdings in Cit Group Inc.. His purchase prices were between $0.25 and $29.64, with an estimated average price of $13.18. The impact to his portfolio due to this purchase was 5.26%. His holdings were 2,582,186 shares as of 12/31/2009.CIT Group Inc. is a bank holding company that provides financing and leasing capital for commercial companies throughout the world. Cit Group Inc. has a market cap of $13.05 billion; its shares were traded at around $32.25 . Cit Group Inc. had an annual average earning growth of 27.2% over the past 5 years.
New Purchase: Directv Group Inc. The (DTV, Financial)
Seth Klarman initiated holdings in Directv Group Inc. The. His purchase prices were between $25.44 and $33.97, with an estimated average price of $30.15. The impact to his portfolio due to this purchase was 3.98%. His holdings were 1,617,471 shares as of 12/31/2009.DIRECTV Class A is a provider of digital multichannel television entertainment, broadband satellite networks and services, and global video and data broadcasting in the United States and Latin America. Directv Group Inc. The has a market cap of $29.37 billion; its shares were traded at around $30.69 with a P/E ratio of 23.9 and P/S ratio of 1.5. Directv Group Inc. The had an annual average earning growth of 12.7% over the past 10 years.
New Purchase: Lstza (LSTZA, Financial)
Seth Klarman initiated holdings in Lstza. His purchase prices were between $46.39 and $51.16, with an estimated average price of $48.32. The impact to his portfolio due to this purchase was 1.44%. His holdings were 422,216 shares as of 12/31/2009.Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Lstza has a market cap of $2.34 billion; its shares were traded at around $47.3 .
Reduced: Syneron Medical Ltd. (ELOS, Financial)
Seth Klarman reduced to his holdings in Syneron Medical Ltd. by 28.44%. His sale prices were between $9.43 and $12.23, with an estimated average price of $10.59. The impact to his portfolio due to this sale was -0.33%. Seth Klarman still held 1,500,000 shares as of 12/31/2009.Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary, patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. Syneron Medical Ltd. has a market cap of $274.6 million; its shares were traded at around $9.95 with and P/S ratio of 2.5.
Sold Out: Rhi Entertainment Inc. (RHIE, Financial)
Seth Klarman sold out his holdings in Rhi Entertainment Inc.. His sale prices were between $0.3 and $3.1, with an estimated average price of $1.53.RHI Entertainment develops, produces and distributes new made-for-television movies, miniseries and other television programming worldwide, and is the provider of new long-form television content in the United States. Rhi Entertainment Inc. has a market cap of $4.7 million; its shares were traded at around $0.34 .
